Developed Technology Resource, Inc. Announces Spin-Off of and Acquisition By Subsidiary

Apr 26, 2001, 01:00 ET from Developed Technology Resource, Inc.

    MINNEAPOLIS, April 26 /PRNewswire/ --
     Developed Technology Resource, Inc. (OTC Bulletin Board:   DEVT.OB)
 (the "Company") announced today that it is declaring a stock dividend to its
 shareholders of record as of 4:30 p.m. central daylight savings time, on May
 7, 2001.  The dividend will consist of one share of the common stock of its
 wholly owned subsidiary, DTR-Med Pharma Corp., for each share of the Company
 held of record at the record date.  The payment date for the dividend is set
 at May 15, 2001.
     DTR-Med Pharma Corp. holds an indirect royalty interest in medical
 technology which is designed to permit the measurement, through a pressure
 sensitive system, of the elasticity and hardness of soft tissue.  Through
 digitization, a clinician using this system is able to generate an image
 showing the size and location of nodules in human tissue, as an aid to cancer
 detection.  DTR-Med Pharma Corp.'s royalty interest has been determined to
 have a fair market value of approximately $107,000.
     It was also announced that the Company and DTR-Med Pharma Corp. entered
 into a Stock Exchange Agreement with the shareholders of Pro-Pharmaceuticals,
 Inc., based in Newton, Mass., whereby DTR-Med Pharma Corp. will issue
 approximately 12,354,670 shares of its common stock in exchange for all of the
 outstanding shares of common stock of Pro-Pharmaceuticals, Inc.
 Pro-Pharmaceuticals, Inc. is in the process of developing what is believed to
 be an improved drug delivery system that reduces toxicity and increases the
 effectiveness of drugs currently in use for treatment of various diseases
 including cancer.
     The closing of the transaction with the shareholders of
 Pro-Pharmaceuticals, Inc. is expected to occur in mid-May 2001.  Following the
 closing, DTR-Med Pharma Corp. will have approximately 13,576,560 shares of
 common stock outstanding, of which approximately 1,221,890 will be held by the
 Company's shareholders as a result of the stock dividend.  In addition,
 following the closing, it is anticipated that from approximately 1,150,000 to
 3,500,000 additional shares of DTR-Med Pharma Corp. will be issued in
 connection with the incurrence of approximately $1,200,000 in debt by
 Pro-Pharmaceuticals, Inc., and the possible conversion of that debt into
 DTR-Med Pharma Corp. common stock.
     The common stock of the Company is traded on the OTC Bulletin Board under
 the symbol DEVT.OB.  DTR-Med Pharma Corp.'s common stock is restricted by its
 Articles of Incorporation, which provide that its outstanding stock may not be
 sold, transferred or assigned without written approval of DTR-Med Pharma Corp.
 until the earlier of May 1, 2003 or the 90th day following the date its common
 stock is registered under the Securities Exchange Act of 1934. DTR-Med Pharma
 Corp., to be renamed "Pro-Pharmaceuticals, Inc.," expects to register its
 common stock under the Securities Exchange Act of 1934.  It is contemplated
 that such registration will occur in mid-summer 2001.
     This release contains forward looking information, including statements
 regarding a general description of certain technology, the closing of a
 transaction by the Company with the shareholders of Pro-Pharmaceuticals, Inc.,
 and the registration of the common stock of DTR-Med Pharma Corp. under the
 Securities Exchange Act of 1934.  These forward looking statements are based
 on the Company's current expectations, and there is no assurance that the
 transactions outlined in this press release will occur, or that the technology
 discussed will have any future value.
 
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SOURCE Developed Technology Resource, Inc.
    MINNEAPOLIS, April 26 /PRNewswire/ --
     Developed Technology Resource, Inc. (OTC Bulletin Board:   DEVT.OB)
 (the "Company") announced today that it is declaring a stock dividend to its
 shareholders of record as of 4:30 p.m. central daylight savings time, on May
 7, 2001.  The dividend will consist of one share of the common stock of its
 wholly owned subsidiary, DTR-Med Pharma Corp., for each share of the Company
 held of record at the record date.  The payment date for the dividend is set
 at May 15, 2001.
     DTR-Med Pharma Corp. holds an indirect royalty interest in medical
 technology which is designed to permit the measurement, through a pressure
 sensitive system, of the elasticity and hardness of soft tissue.  Through
 digitization, a clinician using this system is able to generate an image
 showing the size and location of nodules in human tissue, as an aid to cancer
 detection.  DTR-Med Pharma Corp.'s royalty interest has been determined to
 have a fair market value of approximately $107,000.
     It was also announced that the Company and DTR-Med Pharma Corp. entered
 into a Stock Exchange Agreement with the shareholders of Pro-Pharmaceuticals,
 Inc., based in Newton, Mass., whereby DTR-Med Pharma Corp. will issue
 approximately 12,354,670 shares of its common stock in exchange for all of the
 outstanding shares of common stock of Pro-Pharmaceuticals, Inc.
 Pro-Pharmaceuticals, Inc. is in the process of developing what is believed to
 be an improved drug delivery system that reduces toxicity and increases the
 effectiveness of drugs currently in use for treatment of various diseases
 including cancer.
     The closing of the transaction with the shareholders of
 Pro-Pharmaceuticals, Inc. is expected to occur in mid-May 2001.  Following the
 closing, DTR-Med Pharma Corp. will have approximately 13,576,560 shares of
 common stock outstanding, of which approximately 1,221,890 will be held by the
 Company's shareholders as a result of the stock dividend.  In addition,
 following the closing, it is anticipated that from approximately 1,150,000 to
 3,500,000 additional shares of DTR-Med Pharma Corp. will be issued in
 connection with the incurrence of approximately $1,200,000 in debt by
 Pro-Pharmaceuticals, Inc., and the possible conversion of that debt into
 DTR-Med Pharma Corp. common stock.
     The common stock of the Company is traded on the OTC Bulletin Board under
 the symbol DEVT.OB.  DTR-Med Pharma Corp.'s common stock is restricted by its
 Articles of Incorporation, which provide that its outstanding stock may not be
 sold, transferred or assigned without written approval of DTR-Med Pharma Corp.
 until the earlier of May 1, 2003 or the 90th day following the date its common
 stock is registered under the Securities Exchange Act of 1934. DTR-Med Pharma
 Corp., to be renamed "Pro-Pharmaceuticals, Inc.," expects to register its
 common stock under the Securities Exchange Act of 1934.  It is contemplated
 that such registration will occur in mid-summer 2001.
     This release contains forward looking information, including statements
 regarding a general description of certain technology, the closing of a
 transaction by the Company with the shareholders of Pro-Pharmaceuticals, Inc.,
 and the registration of the common stock of DTR-Med Pharma Corp. under the
 Securities Exchange Act of 1934.  These forward looking statements are based
 on the Company's current expectations, and there is no assurance that the
 transactions outlined in this press release will occur, or that the technology
 discussed will have any future value.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X76498769
 
 SOURCE  Developed Technology Resource, Inc.